Gov. Phil Murphy’s 2021 budget – ravaged by a global pandemic – includes a trifecta of unsavory pills to swallow: Debt, tax hikes and budget cuts.

Still, Murphy maintains cuts would be nowhere near as “draconian” as what was enacted a decade ago in the midst of the Great Recession. That level of cuts would, Murphy cautioned on Tuesday, “disproportionately fall upon our working and middle-class families, our kids, and our communities of color while, at the same time, leading to increased property taxes.”

“That is the wrong way, the dishonest and failed way, and is just more of what made us so vulnerable to the ill winds of the pandemic,” the governor said at his budget address at the SHI Stadium at Rutgers University in Piscataway.

His $32.4 billion budget calls for $4 billion in new debt and $860 million in new taxes, which in turn are part of more than $1 billion in so-called “revenue raisers.”

“We have made deep cuts and found necessary economies where we need to,” Murphy said. “Some spending cuts are absolutely necessary in the face of this crisis, and, yes, some of them will hurt.”

His budget calls for cutting a $71.3 million state subsidy toward New Jersey Transit and for diverting $5 million to the state’s general fund from the Motor Vehicle Commission, which has been hounded by long lines in the weeks since its reopening.

$9.7 million, and employees, would be cut at University Hospital in Newark, along with $5.2 million from the Rutgers University School of Biomedical and Health Sciences, and $1.1 million from the School of Osteopathic Medicine at Rowan University.

Another $19 million would be saved via a 10 percent cut to the state’s charity care program, while $1 million toward the New Brunswick-based Cancer Institute of New Jersey would be slashed.

The state would chop $21.5 million from Department of Human Services diversion bed contracts, which are put in place to ensure a patient is diverted to another hospital if the one they show up to is at maximum capacity.

Another $6 million from DHS contracts for psychiatric emergency care would be cut, while $9 million would be cut from its pharmaceutical assistance program for elderly and disabled New Jerseyans.

The spending plan also calls for cutting $25 million in county college overhead expenses, while another $7 million would be redirected from the state labor department’s supplemental workforce fund. Murphy’s long-touted Community College Opportunity Grant, meant to subsidize community college tuition for many of the state’s neediest residents, would see a $5 million cut.

The New Jersey Economic Development Authority, which oversees an array of grants, loans and other financing programs to incentivize the creation or retention of businesses in New Jersey, would see a $10 million cut.

The New Jersey Cultural Trust Fund, which provides grants to support arts, humanities and history nonprofits, would see $4.1 million diverted toward the state’s general fund.

The state would cut its yearly $20 million horse-racing subsidy, which it enacted in early 2019 to boost the industry and its ancillary economy. And, half a million dollars toward the New Jersey Civic Information Consortium – meant to bolster local media projects – would be frozen.

Another $40 million would be raised from the state’s clean energy fund, maintained by the New Jersey Board of Public Utilities to pay for utility costs for lower-income residents.

The budget proposal calls for cutting $115 million in salary expenses and another $99.2 million in health benefits costs, instead using the state’s limited pot of $2.4 billion in COVID-19 federal relief to pick up the tab.